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PROSPECTING for 90% SILVER!!!

mitocondriac

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[Next, find a good source bank or two or three and try to get them to order you extra boxes so you aren't cutting into their regular coin for business customers. Better yet, find a bank with a coin machine who will sell you bags off that machine. Then you eliminate the box/roll opening process. Which does save time. This wasn't easy for me though, I've been doing this for almost a year and I just finally found a bank to sell me bags, after buying boxes from them for 6+ months.


ok what is a penny arcade? and what kind of coin machine you mean like the coinstar things but in the bank so you have no charge for use? Im guessing those machines put all change in them into bags and you can just buy one of those bags? How much do the bags usually have in them. Dollar amount i mean so i know what to expect.
 

PhucilliJerry

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[Next, find a good source bank or two or three and try to get them to order you extra boxes so you aren't cutting into their regular coin for business customers. Better yet, find a bank with a coin machine who will sell you bags off that machine. Then you eliminate the box/roll opening process. Which does save time. This wasn't easy for me though, I've been doing this for almost a year and I just finally found a bank to sell me bags, after buying boxes from them for 6+ months.


ok what is a penny arcade? and what kind of coin machine you mean like the coinstar things but in the bank so you have no charge for use? Im guessing those machines put all change in them into bags and you can just buy one of those bags? How much do the bags usually have in them. Dollar amount i mean so i know what to expect.
Do you have TD Banks in your area? Penny Arcade (PA) is like a coinstar machine offered by some TD Bank branches. Go to http://www.tdbank.com/net/absearch/ and find local branches and see if they have a PA. Branches around me have coin machines behind the counter if they don't have a PA. There is a 6% fee if you are not a customer. Definitely worth parking $100 in the bank if you're going to really get into this.

Well for buying bags, I haven't been able to get a TD Bank with a PA to sell me a bag, they say they can't and that they must send them out to verify their counts and whatnot. I get my bags from a non-PA bank that has a machine behind the counter that the tellers feed change through. It is the only one in my area that will sell me bags, and I've tried quite a few of them.

Also, check here if you don't have a local TD bank PA:

http://www.theunderstory.com/

The bags I have bought are $1k for both quarters and dimes, $200 for nickels, and $50 for pennies. TD in my area has an employee that goes around and pulls any silver halves so I don't bother buying those bags........ The PA bags are $100 halves, $500 for both quarters and dimes, I believe $200 on nickels and $50 on pennies, but I am not positive on either.
 

ME Co.

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Totals from the silver mine for April are thus.
Dimes= 151 (14 Mercs)
One lonely Ben made up the 90% half category
40% halves= 11
War Nics= 3

Got 6 boxes of dimes coming tomarrow and that is the last official pickup though I will likely scrounge all I can while getting ready to head out to Gold Camp. HH all, Mark
 

samwiii

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Totals from the silver mine for April are thus.
Dimes= 151 (14 Mercs)
One lonely Ben made up the 90% half category
40% halves= 11
War Nics= 3
Cool - I also ended the month with 11 40%'s and 1 lonely Ben. Unfortunately, I only had 6 dimes :( Your 151 sounds much sweeter (and significantly more profitable)!
 

ME Co.

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Unfortunately, I only had 6 dimes :( Your 151 sounds much sweeter (and significantly more profitable)!
High # looks good but it takes alot of the lil buggars to make weight. Probly broke even on the extra gas is all- but I did stay entertained. Got 3 more Roos last night out of 2 boxes I did- trying to weene myself off gently haha. Wonder how many I can get before I leave town Tue, though I'm going to be busy readying and hunting will take a back seat. HH all, Mark:beer:
 

dozer99

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Started the month off right. Went in to the bank and the teller had $7.00 in halves in her tray. Bought them all, 1-64 Kennedy and 1-63 Franklin. The other six dollars worth goes in the dump pile. Not a bad start. :party30:
 
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PhucilliJerry

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Well my bag experiment was profitable to start off, a few silver quarters, fewer silver dimes, decent amount of war nicks, but even more so, every bag drop was positive cash-out value. $11.46, $9.00, $4.74, $2.26 until today. Today was negative, in a BIG way. Down $86.83, all quarters. Never had a problem with quarters before, only dimes which would count as pennies or just be missed at times, but usually a small enough amount to be covered by other customer's left/missed change in the coin machine, Penny Arcade at TD Bank in my case. One time a while back, I had an $89.xx discrepancy, but I saw dimes in the penny bag and the teller witnessed it. This time, the nicks were off by a count of 10 in my favor but not enough to explain the quarters. The Penny teller is very nice and helpful so if it is a discrepancy on that end I don't doubt that it will be fixed. Took 2 weeks last time, but I got my money back and then some........

So, to my question now that you have my life story....... Does anyone who sorts bags here notice discrepancies? Do you run your coin through a counter at home to verify? Do you count it at all? All I do is keep track of what I pull out in Excel and assume a full bag/box. Should have started with 4000 quarters from a $1k bag, I only pulled 4, but added 7 from my wife's change. So I should have dropped 4003 quarters, but only 3654 were counted.

Being up the previous 4 times makes me think the count isn't terribly accurate and I had anticipated a "negative" bag, but not THIS negative....... Might just go back to boxes if this is the case. I'm averaging about 1 dime p/bag, which is equal to 1 dime p/4 boxes. Which is far worse than my previous awful rate....... I can sort a bag quicker, but still.

Anyone with experience/advice on this???
 

PhucilliJerry

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What is the source of the bags? Are they "bank sealed"? That alone should verify the count as they are done by machine.
It is from another TD bank location, bags are sealed and noted with amount and date info. This bank does not have a Penny Arcade (PA) but a teller fed machine out back.

That's what I was thinking, that the count couldn't be off by that much and that the positive discrepancies were just a result of left coin in PA by the previous customer. I have only had 1 drop that came out exactly correct in the year plus I've been doing this. And the degree of the discrepancy is much larger now with bags, all positive until today though.

I have seen with PA that the teller sometimes removes the wrong bag and the other bag ends up being double filled. This is with side-by-side $500 bags though. I am assuming that the $1000 bags are solo bags so this couldn't necessarily happen. Who knows. I'll find out next week since the bag pick-up for my drop bank is Tuesday.
 

nadcarves

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Finally am back on..At 74, I don't have the time to get rolls (unless they are baked),nor do I want to tie up my money.Leave a business card with the kids in the gas stations. That you will pay these prices for a dime, Quarter, half, and silver dollar. Dollar minimum.. To get out, I use a metal detector around old houses..Between the two, I did a bit over ten dollars last month.Moving out collector coins to off set buying, it is more than possible to have a zero, or negative outlay..So as the water warms, I am going to sit in 4 inch water, over round stones where Civil War troops washed their clothes. Detector is a Tesoro Compadre in an Otter Box..I search a 30 acre field where families run their hind ends off, detector there is a Vaquero with a 3 by 18 inch clean sweep coil. Set at no disc, it is very effective in finding gold and silver rings. The clad is a waste of time..You can get the clean sweep for both series of Tesoro detectors..However, stay with Vaquero, Tejon, and Cibola models, better depth to get through grass.
 

mitocondriac

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Got 8 40% this week out of $1000 worth of halves. Is this good\bad\average? Just curious as to what I should be expecting. And damn quarters got a box today and they were all in plastic rollers and didn't find crap!!!
 

mitocondriac

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Ok this is my 2nd week of doing this and have found 20 40% and 1 90%. My old lady thinks its silly that I do this. Does anyone else better half think that its silly your doing this??? Makes since to me....
 

newmisty

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Yes it is silly, but in a good way. ;)
 

newmisty

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Ran through a box of dimes today with no luck.
 

PhucilliJerry

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What is the source of the bags? Are they "bank sealed"? That alone should verify the count as they are done by machine.
Well I figured it out. The bag count was off. My next drop was positive by $86.95. Then I had a $72.35 deficit, followed by a $74.42 surplus, quarters again. I talked to the teller at my bag source bank and she said that sometimes their machine will stop counting coins but still runs the coin through into the bag, and then the count for the next bag will stop short by whatever amount cleared through previously. Kinda scary, and this still doesn't explain why the first bag I get is the short bag. Based on her explanation, I should get the surplus bag first......... But, so far it has evened out for me and she did assure me that if I'm ever off, even by just a single quarter, to let them know and they'll credit me. Not sure I want to risk that much money though, especially with the measly return I'm pulling from this. Although I did pull a lone silver Washington out of the last bag I did.

$500 box of halves tonight has resulted in only a 1994 clad proof and a 1991-1995 Liberty Commemorative clad half, never seen that one in circulation before........
 

Cajuncoin

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Went to Micky D's to eat last night and spotted a half dollar in the drawer, offered to buy it, gavem' my two quarters extra and voila, I am the proud owner of a 1964 90% half! I would have
Settled for a 40%er but that's luck.

The day before in Lafayette, LA, I was given a 1912 nickel in change, my boss says good luck comes in 3s, any guesses?
 

samwiii

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Box of Halves and Dimes today; not too shabby: 3 silver Roos, 4 40%'s, and 1 Franklin. That will keep my in the game for a while.
 

samwiii

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Well I figured it out. The bag count was off. My next drop was positive by $86.95. Then I had a $72.35 deficit, followed by a $74.42 surplus, quarters again. I talked to the teller at my bag source bank and she said that sometimes their machine will stop counting coins but still runs the coin through into the bag, and then the count for the next bag will stop short by whatever amount cleared through previously. Kinda scary, and this still doesn't explain why the first bag I get is the short bag. Based on her explanation, I should get the surplus bag first......... But, so far it has evened out for me and she did assure me that if I'm ever off, even by just a single quarter, to let them know and they'll credit me. Not sure I want to risk that much money though, especially with the measly return I'm pulling from this. Although I did pull a lone silver Washington out of the last bag I did.

$500 box of halves tonight has resulted in only a 1994 clad proof and a 1991-1995 Liberty Commemorative clad half, never seen that one in circulation before........
Truth is, the problem is human error. When the bag reaches it's pre-set limit (generally set to whole or half bags), the machine stops, the teller changes the bag, and depending on the unit, either manually clears the bag count or the clip that holds the bag on the chute triggers the counter to clear the bag count when it is raised to the retaining magnet. The error is generally a failure to clear the dropped bag, changing the wrong bag, or accidentally clearing the wrong bag. Either way, the type of error you're seeing generally results in the coin machine balance being correct but the individual bag balances being off. They probably would credit you if there is a difference because whatever you are short, another bag would be over, and a quick audit of the machine (recount) would confirm your claim. Of course, there is a risk that another prospector picks up the "over" bag, you get stuck with the "under" bag, and the branch doesn't honor your request because they would then be in balance upon recount. The only real difference a bank branch takes on coin bags is due to missort, which is a true loss (rarely a gain). I would be concerned as you are with how many bags you've had that have been off.
 

PhucilliJerry

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Truth is, the problem is human error. When the bag reaches it's pre-set limit (generally set to whole or half bags), the machine stops, the teller changes the bag, and depending on the unit, either manually clears the bag count or the clip that holds the bag on the chute triggers the counter to clear the bag count when it is raised to the retaining magnet. The error is generally a failure to clear the dropped bag, changing the wrong bag, or accidentally clearing the wrong bag. Either way, the type of error you're seeing generally results in the coin machine balance being correct but the individual bag balances being off. They probably would credit you if there is a difference because whatever you are short, another bag would be over, and a quick audit of the machine (recount) would confirm your claim. Of course, there is a risk that another prospector picks up the "over" bag, you get stuck with the "under" bag, and the branch doesn't honor your request because they would then be in balance upon recount. The only real difference a bank branch takes on coin bags is due to missort, which is a true loss (rarely a gain). I would be concerned as you are with how many bags you've had that have been off.
I've seen that happen with Penny Arcade bags. The teller will remove the wrong quarter bag and the other bag gets double filled. But supposedly the machine at my source bank doesn't have double bags. Plus, the first bag I get is always the short bag, not the 2nd. If their explanation holds true, the first bag should have the surplus. Either way, it is concerning. Supposedly I'm the only one buying bags here, so missing a bag isn't a huge concern, although because of Memorial Day I will probably miss whatever bags were filled over this weekend since their pickup is Tuesday morning and I can't get there til Tuesday evening. So hopefully that will be a short bag I miss...... Then maybe they'll fix the issue if they're down, or just stop me from getting bags altogether.

Since I've started doing bags, I'm up $30 on my drops. Some of it is left coin in the drop machine, but not that much, so some has to be surplus in the bags as well.......

And of course, now that I have a grasp on the issue, I'm finding silver at a better rate.......
 

samwiii

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And of course, now that I have a grasp on the issue, I'm finding silver at a better rate.......
And there's the real secret. If you can get the bags directly, you have the best shot at getting the good silver. Many of the companies that roll use equipment that will drop out the silver coins, so you have to find a bank that uses one of the companies that doesn't if you like searching boxes. Around where I live, customer rolls aren't an option because hand-rolled coins just get dumped in the machines as well. I'm back to boxes because I found a supplier that uses a company that doesn't seperate them and the bag drops have become a pain in the a$$ because the bags are all filled with coins from those darn prospectors :)
 

glockngold

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Finally had a box that put a smile on my face.
Last year I didn't bother to keep records, & my New Years Resolution was to keep a prospecting record to see if this silly hobby was a waste of my time & trips to the bank.
Frankly I was about ready to give up with all the skunks that were coming my way.
My bank makes me pay a $3.00 service charge for each box & I do 1 box a week.
In 18 weeks my totals were:
11 Skunk boxes
3 - 90% coins
6 - 40% coins
So up to this week, I had about broke even on the service charge.
I was working for nuttin...:hmpf:

This week's box I'm back to doing the happy dance. :fisheye:
3 - 64s
9 - 40%
Guess I'll stick with it.

90 & 40 % halves 003.JPG
 

newmisty

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Nice score! :23_30_104:

Now go ahead, take the bait! :devil_smile:
 

mitocondriac

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Another good score friday found 20 40% halves and 1 90%, today got 24 40% and 1 90%. Dont know how ya'll do those boxes it drives me nuts and cant ever find anything!!! I just buy all the hand rolled and loose halves I can get my hands on.
 

newmisty

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Another good score friday found 20 40% halves and 1 90%, today got 24 40% and 1 90%. Dont know how ya'll do those boxes it drives me nuts and cant ever find anything!!! I just buy all the hand rolled and loose halves I can get my hands on.
Did another box of halves and 2 dime boxes with nothing to show for it but a couple giant buckets of change. :p
 

Lawrence

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I always ask for "large dollars" ever since a teller gave me that ASE. The other day another teller said she'd saved a bunch of dollar coins that had been glued to a felt sheet someone brought in. Images of Morgan collector sets started dancing in my head...but it turned out to be circulated clad Ikes. Oh well.
 

ME Co.

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Finally had a box that put a smile on my face.
Last year I didn't bother to keep records, & my New Years Resolution was to keep a prospecting record to see if this silly hobby was a waste of my time & trips to the bank.
Frankly I was about ready to give up with all the skunks that were coming my way.
My bank makes me pay a $3.00 service charge for each box & I do 1 box a week.
In 18 weeks my totals were:
11 Skunk boxes
3 - 90% coins
6 - 40% coins
So up to this week, I had about broke even on the service charge.
I was working for nuttin...:hmpf:

This week's box I'm back to doing the happy dance. :fisheye:
3 - 64s
9 - 40%
Guess I'll stick with it.

View attachment 18564
All I can say to that is "You can't win if You don't play". Grats on the silva though. I haven't found a piece of sliver since May but I have found a little gold. I'm just back for the weekend, maybe I'll pound the banks in the hills when I go back Monday. HH all, Mark
 

ME Co.

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How's the gold mining going ME Co.?

This thread is not the same without you...good luck out there!
Alot harder this year since we can't pump water to the hole-hard to keep motivated carrying buckets of dirt to the stream 100 yards away over cobble trails. Still looking for a sweetspot with enough gold I won't care how far the carry is. May have to give up if I don't find it soon as I know I've spent more than I've made- gotta keep hydrated ya know. HH all, Mark
 
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hi all,

long time-no post
been so bad here that there was no need to post. for the last 5 months i've been living in skunkytown and eating skunkaroni, with a skunk. (get the picture?) anyway, my last 2 boxes were actually worthwhile:
$1000 boxed halves.
11 40%'ers
1 90% kenny

oddball stuff:
1 diez peso(mexican) 1981
1 colorized "lucky" kenny half (2008) (on ebay they ask $23.98) :stupid:
3 24K gold plated kenny halves ('96, '01, & '07)(sell for $14.95 each) :stupid:
1 1983 S kenny that looks like it has silver content, no copper edge, and oxidized like silver. sound is like a clad, not at all like a 40%/90%

good luck!
J6P
 

glockngold

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So I'm at my dump bank this morning getting rid of yet another batch of $500. worth of clad halves.
The coin machine has an animated touch screen with a kid on it that talks you through the process.
I dump about half the coins in & the machine starts to make unhappy noises. Then the kid on the screen says, "oh oh, ... we'll have to get a grownup for some help" (The message repeats every 20 seconds or so.)

So a teller shows up & starts taking the machine apart, digging my halves out of the hopper & piling them on the counter. Some of them fall on the ground & down in the machine & she fishes them out.
Behind me a voice says with awe "Dude, are those all 50 cents... why are you getting rid of them? How much is that!!!" A line of coin customers is building behind me.
I just want to be gone.

The teller was still digging in the hopper. She pulled out some screws, nuts & what looked like the winding stem from a wristwatch.
The teller finally puts the machine together, I toss the remainder of the halves in the hopper & finish up, collect my receipt, & go to the counter, get the cash & go.
I was shorted $1.00 on the count.
It was pointless to make a stink over a buck.
Actually I probably got off lucky.

That would be skunk box # seven in a row, .... I'm due right?
 

newmisty

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Sheesh, sounds like a chore. Way to hang in there...can't win if you don't play.
 

dozer99

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So it finally happened to me! I went into a bank on the other side of the county last week just on the off chance that they might have some loose halves. I asked the teller girl and she had about 7 dollars worth (no silver). Then, just as I was getting ready to walk away, I asked her if she by any chance had any of the big silver dollar coins. She pulled out 17 Eisenhower dollar coins and 1 1989 silver Dollar. She even remarked that the 1989 looked strange. I said "yep, it does, doesn’t it" and gave her a twenty, got my change, thanked her and walked out to the truck. So what I'm wondering is- who the heck turned in a bullion coin with the Eisenhower’s and whoever it was, I'd like to thank them! Not a bad haul. :cool05: